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Whitney wsaani2326
on Nov 22, 2024

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Why did the government recently give financial bailouts to GM Canada and Chrysler Canada?

A) because their bankruptcies would cause an enormous financial ruin for the Canadian economy
B) because the Canadian government had previously borrowed from both companies in the past
C) because the Canadian government owed a moral debt because of the jobs they had created in past decades
D) because these companies had long histories of keeping production in Canada, compared to other companies that outsourced

Financial Bailouts

Emergency financial support provided by governments or institutions to prevent the failure of economically important entities.

GM Canada

General Motors Canada Company, a subsidiary of the American multinational corporation General Motors (GM), responsible for the marketing, sales, and manufacture of GM vehicles in Canada.

Chrysler Canada

A subsidiary of the automotive company Chrysler, operating in Canada, involved in the manufacture and sale of vehicles.

  • Understand the significance of governmental involvement in economic operations.
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GH
Garrett HamiltonNov 24, 2024
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